Establishing a Special Needs Trust for Your Child

Many parents lie awake at night, wondering what will happen to their special needs children if they weren’t around to take care of them. Instead of worrying, parents can be proactive and establish a Special Needs Trust.

Tell Others What You Are Planning

Make your wishes known and plain to those closest to you. Have a guardian in place, with a legal document. If something happens to you, the last thing you want is others fighting over where to place your child!

Do Your Homework

Visit an attorney who specializes in estate planning. It is also a good idea to have the trust reviewed by the Social Security Administration as well, to be sure it is within the boundaries of the law. Laws can vary from state to state, be sure to find an attorney with experience in this area of law.

Decide How Much To Spend

Decide what you will spend for the trust, basing this upon living expenses and incidentals that will be needed from day to day. Granted, more than likely, much of medical and treatment needs will be covered through state and government-funded progra ms, but there are always concerns that may not be covered. Alternative therapies and programs are some areas to think about.

Make The Money Accessible, But Protected

Make arrangements to allow the trust to be flexible in case at any point, once the child grows up he can manage some or part of his own income. Understand that special needs children/adults cannot have more than $2,000 in total assets in his name at any given time. Therefore, do not include him in an inheritance in your will. Have all monies channeled into the Special Needs Trust, instead. All monies in the trust are considered noncountable assets and therefore, the beneficiary can still qualify for benefits and programs in the future. Also, trust funds are not subject to creditors or to seizure. The monies will be safe for the child.

Make It Legal

Be sure to make it legal by seeing an attorney and putting it in writing. It may sound fine to just tell family members of your wishes, but the money won’t be protected and who is to say that your wishes will be carried out the way you expect? Have a letter that includes instructions for those you have left in charge. This includes a full list of treatment plans, therapies, educational goals and residence for the child; as well as any other concerns or issues you might have.

With a little planning, you will soon be able to sleep nights again. Or, at least, lie awake for completely different reasons.

photo copyright D Sharon Pruitt

Tina Cruz is a writer, wife and mother of three children. The two youngest children have high-functioning autism and the oldest has undiagnosed Asperger’s Syndrome tendencies. She advocates for autism awareness and education, as well as acceptance. She views autism as a growth process and the opportunity to connect parents for support as a privilege. She is the editor of the Special Needs channel here at Typeamom. Her personal blog can be found at Send Chocolate. You can email her at sendchocolate@gmail.com with questions, comments or article ideas.

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